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Highlights
- Aptose Biosciences enters a common share purchase agreement for up to $25 million with an institutional investor.
- The funding will support the development of tuspetinib (TUS)-based frontline therapy for newly diagnosed AML patients.
- The agreement is subject to regulatory conditions and restrictions, with no shares to be sold on the TSX.
Aptose Biosciences Inc. (NASDAQ:APTO, TSX:APS), a clinical-stage precision oncology company, has announced a common share purchase agreement and a registration rights agreement with an institutional investor. The deal grants Aptose the option, but not the obligation, to sell and issue up to $25 million worth of common shares over 24 months, subject to regulatory approvals and conditions.
The funding arrangement, known as a Committed Equity Facility, provides Aptose with financial flexibility as it advances its tuspetinib (TUS)-based triple drug frontline therapy for patients with newly diagnosed acute myeloid leukemia (AML). The company aims to develop precision medicines that address critical unmet needs in oncology, particularly in hematology.
Under the terms of the agreement, the issuance of common shares is subject to restrictions imposed by the Nasdaq Capital Market, the U.S. Securities and Exchange Commission (SEC), and other regulatory bodies. Notably, no shares will be sold on the Toronto Stock Exchange (TSX) or any other Canadian trading platform under this arrangement. The TSX has granted conditional approval for the equity facility based on Section 602.1 of the TSX Company Manual, which allows certain exemptions.
About Aptose Biosciences
Aptose Biosciences is a clinical-stage biotechnology company dedicated to developing innovative precision medicines for oncology. With a primary focus on hematology, Aptose aims to create targeted therapies for patients with limited treatment options. The company's lead program, tuspetinib, is being developed as part of a triple-drug frontline therapy for newly diagnosed AML patients, a significant step toward improving outcomes in this aggressive blood cancer.
